Global Retirement Partners LLC Buys Shares of 1,726 Axon Enterprise, Inc $AXON

Key Points

• Global Retirement Partners purchased 1,726 Axon Enterprise shares valued at approximately $968,000 during the second quarter. Institutional investors collectively own 79.08% of the company.
• Axon reported quarterly revenue of $904.39 million, up 35.3% year over year, and EPS of $1.88, topping analysts’ estimate of $1.84. Shares opened at $619.85, while the stock carries a lofty price-to-earnings ratio of 257.20.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $730.92. However, insiders sold 68,989 shares worth $36.0 million over the past 90 days.

Global Retirement Partners LLC bought a new stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,726 shares of the biotechnology company's stock, valued at approximately $968,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Creative Financial Designs Inc. ADV purchased a new position in Axon Enterprise during the 4th quarter valued at $28,000. Camelot Portfolios LLC bought a new stake in shares of Axon Enterprise during the fourth quarter worth $30,000. AlphaCentric Advisors LLC purchased a new stake in shares of Axon Enterprise during the fourth quarter valued at $34,000. Darwin Wealth Management LLC bought a new position in shares of Axon Enterprise in the second quarter worth about $37,000. Finally, Strive Financial Group LLC purchased a new position in Axon Enterprise in the 4th quarter worth about $41,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Axon Enterprise Stock Performance

Shares of NASDAQ:AXON opened at $619.85 on Wednesday. The firm has a 50 day moving average of $532.07 and a 200 day moving average of $473.93. The company has a quick ratio of 1.80, a current ratio of 2.15 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $50.36 billion, a price-to-earnings ratio of 257.20, a price-to-earnings-growth ratio of 9.95 and a beta of 1.39. Axon Enterprise, Inc has a 52 week low of $339.01 and a 52 week high of $794.29.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.04. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%.The business had revenue of $904.39 million for the quarter, compared to analysts' expectations of $876.42 million. During the same quarter last year, the firm earned $2.12 EPS. The business's revenue for the quarter was up 35.3% on a year-over-year basis. On average, sell-side analysts predict that Axon Enterprise, Inc will post 2.04 earnings per share for the current fiscal year.

Insider Activity

In other Axon Enterprise news, President Joshua Isner sold 13,000 shares of Axon Enterprise stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $488.45, for a total value of $6,349,850.00. Following the transaction, the president owned 169,125 shares in the company, valued at $82,609,106.25. The trade was a 7.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of the business's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $485.00, for a total transaction of $753,690.00. Following the completion of the transaction, the insider owned 34,024 shares of the company's stock, valued at $16,501,640. This represents a 4.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 68,989 shares of company stock worth $36,016,932 over the last ninety days. 4.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AXON shares. Needham & Company LLC restated a "buy" rating on shares of Axon Enterprise in a research note on Thursday, August 6th. Royal Bank Of Canada restated an "outperform" rating on shares of Axon Enterprise in a research note on Tuesday, July 21st. TD Cowen restated a "buy" rating on shares of Axon Enterprise in a report on Wednesday, July 22nd. Barclays upped their price objective on shares of Axon Enterprise from $523.00 to $688.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Finally, Zacks Research cut shares of Axon Enterprise from a "strong-buy" rating to a "hold" rating in a report on Friday, July 10th. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $730.92.

About Axon Enterprise

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company's hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.

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